Stocks have been "Googling" for a month now...
It seems that when the market gets going nothing can stop it... The mentality is totally Bubblicious! It's 1999 all over again...
Only this time virtually nothing is supporting the rally... Consider:
Consumers are wallowing in gloom and doom about oil, gas, debts, interest rates, real estate bubbles, and punk jobs... And the outlook for 2006 is more of the same.
The odd notion yesterday that the Fed is somehow going to stop raising rates is an example of mass hysteria...not seen since a bunch of Mexicans "saw" the Virgin on the side of an office building a few years ago...
The FED will continue raising rates...or whatever the Bank of China tells them to do. Period. There really are no other good options.
Recovering from "Greenspanomics" will take a while... And it's possible that the US economy will never recover.
The market action over the last few weeks has been totally "inside action" with stocks rallying on whatever the market masters could come up with...
HEY IT'S TIME FOR THOSE YEAR END BONUSUS FOR THE MONEY MANAGERS!
AND EVERYONE KNOWS THAT THE SUCKERS WON'T FLOCK IN JANUARY ON THE CURRENT PERFORMANCE OF THE MARKETS THIS YEAR...
THERE WILL BE PLENTY OF TIME TO TAKE MONEY OFF THE TABLE AFTER NEW YEARS...THAT IS IF THE "JANUARY EFFECT" ISN'T KICKING IN...
BUT IT'S ALL ABOUT YEAR END BONUSES NOW... DOW 11,500 BY NEW YEARS EVE!
IT'S ALL ABOUT WALL STREET NOW... NOT MOM AND POP OR THE RETAIL INVESTORS A/K/A/ THE SUCKERS...THOSE FOLKS ARE PRETTY MUCH ONLY WATCHING THE BANK CD RATES THESE DAYS.
